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Nov 29, 2012
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cliff, you called serious business, extending the lower tax rates -- [ inaudible question ] >> i'm going to do everything i can to avoid putting the american economy, the american people through the fiasco of going over the fiscal cliff. >> which is worse for the economy? [ inaudible question ] could you include a debt limit that is in the overall package? >> as i told the president a couple weeks ago, there's a lot of things i've wanted in my life, but almost all of them had a price tag attached to them. and if we're going to talk about the debt limit in this, then we're -- there's going to be some price tag associated with it. >> last question. >> are you standing by your dollar for dollar -- the increase in the debt limit for cuts? >> are i continue to believe that any increase in the debt limit has to be accompanied by spending reductions that meet or exceed it. >> thank you, mr. speaker. >> speaker boehner speaking to the press outside of the offices on capitol hill. not really yielding any information, though. the intransigence it seems on both sides continues. but it definitely co
cliff, you called serious business, extending the lower tax rates -- [ inaudible question ] >> i'm going to do everything i can to avoid putting the american economy, the american people through the fiasco of going over the fiscal cliff. >> which is worse for the economy? [ inaudible question ] could you include a debt limit that is in the overall package? >> as i told the president a couple weeks ago, there's a lot of things i've wanted in my life, but almost all of them had...
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Sep 22, 2012
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never mind the really tough stuff, the so-called fiscal cliff, when tax cuts expire and numbers kick in december 31st is. anybody who wonders why congress has a very low approval rating should watch and listen. watch the exodus to go campaign, and watch as each party skewers the other. >> never, never have the party done so little to address the challenges as great as the ones our nation faces right now. >> it is a wonder we have gotten anything done at all, considering the lack of cooperation the democrats have gotten from the republican colleagues. >> there are nearly 40 of our jobs bills sitting over in the united states senate. all part of the plan for american job creators. >> congressional republicans want to run away, but you know what? you can run, but you cannot hide from your record. >> they have not passed a budget in more than three years. >> time and time again, my republican colleagues have stalled or blocked perfectly good pieces of legislation to score points with the tea party. >> they have not passed a single appropriation bill. they haven't passed a defense authori
never mind the really tough stuff, the so-called fiscal cliff, when tax cuts expire and numbers kick in december 31st is. anybody who wonders why congress has a very low approval rating should watch and listen. watch the exodus to go campaign, and watch as each party skewers the other. >> never, never have the party done so little to address the challenges as great as the ones our nation faces right now. >> it is a wonder we have gotten anything done at all, considering the lack of...
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Nov 30, 2012
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really bet the country by going over this fiscal cliff. >> crazy? betting the country? well, according to the congressional budget office, bowles has a good reason for saying what he did. the economy would go into a recession, economic output would drop and unemployment rate would go back up to 9.1% by the end of next year. now, the clock is ticking. john and harry, get out of the sand box. 33 days are left. peter difazio of oregon is "outfront" tonight. let me just get a response from you about timothy geithner's plan that he put on the table. 1.6 trillion in revenue. $400 billion in cuts. i'm a little confused because the president said he will give $2.50 in spending cuts for every dollar in revenue. this is, this is the opposite. >> well, finally, the white house has learned not to negotiate with itself, but with the opposition, which is the republicans. remember, there is no real cliff. on january 1st, the only thing that goes away is the social security tax holiday and nobody is seriously talking about continuing that. all the other tax increases don't take place u
really bet the country by going over this fiscal cliff. >> crazy? betting the country? well, according to the congressional budget office, bowles has a good reason for saying what he did. the economy would go into a recession, economic output would drop and unemployment rate would go back up to 9.1% by the end of next year. now, the clock is ticking. john and harry, get out of the sand box. 33 days are left. peter difazio of oregon is "outfront" tonight. let me just get a...
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Nov 12, 2012
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. >>> we heard minutes ago from dana bash on the fiscal cliff negotiations and now i want to go to wolf blitzer on the tax issue. we heard a sharp distinction between taxes and raising income, the tax rates themselves, and now comes this potential bombshell from very powerful conservative commentator bill kristol. have a listen. >> the leadership in the conservative movement needs to flow back and let's have a serious debate and don't scream and yell when someone says it won't hurt the country if we raise the taxes a little bit on the millionaires. i don't know why they don't take obama's offer to freeze taxes for anyone below 250,000. really, the are republicans are going to fall apart, half of whom voted democrat and half whom live in hollywood? >> wolf, that was surprising to a lot of people, journalists and republicans alike. does this mean that the sentiment is swaying? >> it certainly means that some, like bill kristol, are saying make sure that taxes don't go up for 98% of the american public. those earning individually under 200 thourk or 250 thourk as a family. there have been
. >>> we heard minutes ago from dana bash on the fiscal cliff negotiations and now i want to go to wolf blitzer on the tax issue. we heard a sharp distinction between taxes and raising income, the tax rates themselves, and now comes this potential bombshell from very powerful conservative commentator bill kristol. have a listen. >> the leadership in the conservative movement needs to flow back and let's have a serious debate and don't scream and yell when someone says it won't...
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Dec 10, 2012
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cliff. we're not reading out details of the conversation, but the lines of communication remain open. this meeting was not on the official white house schedule today. wednesday a source familiar with the conversation said the two actually spoke by phone. that was the first time in a week they had done so. certainly no reported break-through then. back on monday the president and the speaker were at the same event together, a holiday party at the white house. republican and democratic sources said the two didn't even talk there. john boehner said on friday the white house had wasted another week in potential compromise. at this point we don't know what caused today's movement, just that for the first time in a while the two sides are agreeing on something, even if it's just the wording of their statements about the meeting. >> emily, thank you. cnn's senior political analyst david ger begin joins gen joins cod. you're in front of the camera. >> i can see your snappy tie. >> getting a lot of l
cliff. we're not reading out details of the conversation, but the lines of communication remain open. this meeting was not on the official white house schedule today. wednesday a source familiar with the conversation said the two actually spoke by phone. that was the first time in a week they had done so. certainly no reported break-through then. back on monday the president and the speaker were at the same event together, a holiday party at the white house. republican and democratic sources...
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Dec 13, 2012
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investors eyeing washington's fiscal cliff talks. it's an investment landscape full of uncertainties and fed chief ben bernanke is being crystal clear. the fed will keep interest rates low, very low, near zero, until the jobless rate falls to 6.5%. there's an inflation rate target of 2.5%. they're not going to change things. the fed downgraded its forecast for u.s. growth next year. now 2.3 to 3% and they expect the jobless rate to stay about where it is right now. ben bernanke said the fed does not have enough tools to offset the fiscal cliff, so a warning from the fed that the fiscal cliff is already hurting household confidence and business spending. >>> meantime security firm mcafee releasing a report about plans for a massive cyber attack on 30 u.s. banks. cyber criminals banding together around the world for project blitz creek targeting millions of dollars in consumers' bank accounts. they plan to use malware dying dormant in the u.s. financial system. here are a few of the banks at risk. citibank, wachovia, wells fargo, also
investors eyeing washington's fiscal cliff talks. it's an investment landscape full of uncertainties and fed chief ben bernanke is being crystal clear. the fed will keep interest rates low, very low, near zero, until the jobless rate falls to 6.5%. there's an inflation rate target of 2.5%. they're not going to change things. the fed downgraded its forecast for u.s. growth next year. now 2.3 to 3% and they expect the jobless rate to stay about where it is right now. ben bernanke said the fed...
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one of them said democrats and republicans did the least they could possibly do to avoid the fiscal cliff. the question now is will they do the least amount again when it comes to raising the debt ceiling and how will the rating agencies view that? moody's did warn yesterday it could lower america's credit rating unless washington reduces the deficit. >>> no word yet if your tax refunds will be delayed this year because of the last-minute deal on the fiscal cliff. the irs put out a statement saying the irs is currently reviewing the details of this week's tax legislation and assessing what impact it will have on this year's filing season. >> that's interesting. >> it said it will issue additional guidance soon. if you look at the 1040 form for 2012, several lines are listed as reserved. an irs spokesman told cnn money there are place holder force several fiscal cliff provisions they were working on, like the alternative minimum tax. even though they got it in just after the wire, as we've been telling you for months it was too late. they needed to do this months ago. the 11th hour will no
one of them said democrats and republicans did the least they could possibly do to avoid the fiscal cliff. the question now is will they do the least amount again when it comes to raising the debt ceiling and how will the rating agencies view that? moody's did warn yesterday it could lower america's credit rating unless washington reduces the deficit. >>> no word yet if your tax refunds will be delayed this year because of the last-minute deal on the fiscal cliff. the irs put out a...
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this is a so-called fiscal cliff. january 1st. our news makers representative jim clyburn of south carolina, number three democrat in the house of representatives and number one i'm sure to a lot of people. hello. how are you? >> hey, don. thank you so much for having me. >> thanks for coming on. is speaker boehner right, though? as the clock is ticking, ticking toward january 1st, the talks haven't progressed in two weeks. is he right? >> well, i don't know that i'm as disappointed as the speaker is right now. i understand some of his problem with this. but the fact of the matter is the american people ended elections on november 6th, voiced their approval of president obama's approach to this. over 3 million more people voted for him than voted for mr. romney. and then if you look at house democr democrats. only 201 of us got eelected. that means the rest were republicans. >> i understand that. >> but over 500,000 more votes than they got -- >> with all due respect, representative, we understand that the president won and you fe
this is a so-called fiscal cliff. january 1st. our news makers representative jim clyburn of south carolina, number three democrat in the house of representatives and number one i'm sure to a lot of people. hello. how are you? >> hey, don. thank you so much for having me. >> thanks for coming on. is speaker boehner right, though? as the clock is ticking, ticking toward january 1st, the talks haven't progressed in two weeks. is he right? >> well, i don't know that i'm as...
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what you haven't heard is behind the scenes here of the fiscal cliff, that is until now. that's next. but you're progressive, and they're them. yes. but they're here. yes. are you...? there? yes. no. are you them? i'm me. but those rates are for... them. so them are here. yes! you want to run through it again? no, i'm good. you got it? yes. rates for us and them -- now that's progressive. call or click today. spending the day with my niece. i don't use super poligrip for hold because my dentures fit well. before those little pieces would get in between my dentures and my gum and it was uncomfortable. even well-fitting dentures let in food particles. super poligrip is zinc free. with just a few dabs, it's clinically proven to seal out more food particles so you're more comfortable and confident while you eat. so it's not about keeping my dentures in, it's about keeping the food particles out. [ charlie ] try zinc free super poligrip. how much is your current phone bill? four sixteen seventy six a month! okay, come with me -- we're gonna save you money. with straight talk a
what you haven't heard is behind the scenes here of the fiscal cliff, that is until now. that's next. but you're progressive, and they're them. yes. but they're here. yes. are you...? there? yes. no. are you them? i'm me. but those rates are for... them. so them are here. yes! you want to run through it again? no, i'm good. you got it? yes. rates for us and them -- now that's progressive. call or click today. spending the day with my niece. i don't use super poligrip for hold because my...
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Jul 9, 2012
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if nothing is done, everyone's taxes go up starting january 1st 2013, that's the so-called fiscal cliff. for 2% making more than that, they will go back to the tax rates that occurred during the clinton administration before the bush tax rates went into effect, 2001 and 2003. they will go back up to 39.6% from 35 or 36% right now. so, he will say these people can afford it. they will pay a little bit more. but it's not going to necessarily undermine the economic recovery. republicans will say something very, very different. as you know, ashley, make the point that a lot of small business owners, they will be penalized for this during an economic recovery, as we have now you this is the worst time to raise taxes on anyone. the republicans say let's renew the bush tax cuts for another year and then starting in the course of this year, let's work to achieve broad tax reform. that's the way to do it, so this is an opening gambit in the battle is going to be rather intense, not only over the next four months but then in the lame duck session before the end of the year that follows. >> often,
if nothing is done, everyone's taxes go up starting january 1st 2013, that's the so-called fiscal cliff. for 2% making more than that, they will go back to the tax rates that occurred during the clinton administration before the bush tax rates went into effect, 2001 and 2003. they will go back up to 39.6% from 35 or 36% right now. so, he will say these people can afford it. they will pay a little bit more. but it's not going to necessarily undermine the economic recovery. republicans will say...
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cliff. the hundreds of billions of dollars in tax hikes and spending cuts that were to hit if no deal was reached. >> taxes were going up when all americans on january 1st and we made permanent the bush tax cuts for 99% of americans. i think that's an important thing to do. >> the house passed the bill 257-167 with nearly all the nays coming from republicans. there is much more in the 157-page bill. and that's why jamie dupree is here with me, the radio news director for the washington bureau of the cox media group. jamie, thank you for joining us. there are a lot of tax breaks, what is called extenders, dozens and dozens of them including 340 million for film production, nascar gets a $70 million tax benefit. tell me about some of the other ones. are they all special interests here? >> they're not all special interests. but a lot of them, don, do have to do with business. there is a very popular rnd credit. a lot of them are very bipartisan. there is stuff in there for energy tax credits, s
cliff. the hundreds of billions of dollars in tax hikes and spending cuts that were to hit if no deal was reached. >> taxes were going up when all americans on january 1st and we made permanent the bush tax cuts for 99% of americans. i think that's an important thing to do. >> the house passed the bill 257-167 with nearly all the nays coming from republicans. there is much more in the 157-page bill. and that's why jamie dupree is here with me, the radio news director for the...
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. >>> starbucks' ceo howard schultz has some sobering advice to offer on that looming fiscal cliff. he says consequences will be far worse than last year's debt ceiling fight, when the u.s. credit rating was downgraded for the first time ever. if a deal is not reached, he told our poppy harlow, the ripple effect will be felt worldwide. >> this single issue has a seismic effect on the rest of the world, that we have never been as connected and the domino effect of a bad outcome here will have significant negative consequences, domestically and around the world. >>> take a minute to come over to your tv, if you can. penn state has another pr problem on its hands this morning. the university's kai omega sorority is being investigated for stereotyping latinos after a picture showed up on the site tumblr. the photo showed sorority members wearing fake mustaches and dressed in somberos while holding signs that say, "i don't cut grass, i smoke it." the president of the chapter has apologized. is that enough, soledad? >> ladies, as your multi-ethnic friend, let me help you. help me help you
. >>> starbucks' ceo howard schultz has some sobering advice to offer on that looming fiscal cliff. he says consequences will be far worse than last year's debt ceiling fight, when the u.s. credit rating was downgraded for the first time ever. if a deal is not reached, he told our poppy harlow, the ripple effect will be felt worldwide. >> this single issue has a seismic effect on the rest of the world, that we have never been as connected and the domino effect of a bad outcome...
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Dec 4, 2012
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. >>> back to our conversation on the so-called fiscal cliff. the debt reducing tax hikes and federal spending cuts coming january 1st unless congress and the president act. so now both sides have offers on the table, the democrats' plan which would focus debt reduction on higher tax rates for the wealthiest 2%. house republicans, they anted up yesterday with a plan to cut the debt through tax code and spending reforms, not through higher tax rates for the wealthy. if there is no agreement, you know the deal, everyone, everyone's taxes go up. representative tom price of georgia joins me now from capitol hill. he is a hard line republican. congressman, good to see you. thanks for coming on. >> yes, thank you so much. good to be with you. >> the republican plan published yesterday, it is note worthry, congressman price, it would raise more money through the tax system this and is a pretty big departure for your republican party. i just want to know, do you support this proposal put forward by the speaker of the house? >> well, this proposal is jus
. >>> back to our conversation on the so-called fiscal cliff. the debt reducing tax hikes and federal spending cuts coming january 1st unless congress and the president act. so now both sides have offers on the table, the democrats' plan which would focus debt reduction on higher tax rates for the wealthiest 2%. house republicans, they anted up yesterday with a plan to cut the debt through tax code and spending reforms, not through higher tax rates for the wealthy. if there is no...
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so until the republicans agree to those clinton-era rates, we are going to go off the fiscal cliff. >> you know, it's interesting, ari, you'll remember this because you were the white house press secretary in 2001 and 2003 when those bush-era tax rates were approved basically by republicans, very few democrats voted to approve those bush-era tax cuts. so why not do what the republican congressman from oklahoma says, what paul just said, go ahead, declare victory. say, look, all these democrats are now on board, they support for 98% of the american people the bush-era tax rates for a long time to come, declare victory and move on. >> well, number one, wolf, actually those tax cuts were bipartisan. 12 senators -- democratic senators voted for them, a good number. more than 60 senators voted for the bush tax cuts across the board. number two, let me surprise you with this, i don't agree by going over the fiscal cliff, but i do agree that the smart move for the americans to make they don't have leverage on the taxes. the payroll tax cut about to expire and it did expire, republicans tucke
so until the republicans agree to those clinton-era rates, we are going to go off the fiscal cliff. >> you know, it's interesting, ari, you'll remember this because you were the white house press secretary in 2001 and 2003 when those bush-era tax rates were approved basically by republicans, very few democrats voted to approve those bush-era tax cuts. so why not do what the republican congressman from oklahoma says, what paul just said, go ahead, declare victory. say, look, all these...
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Dec 22, 2012
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both sides are saying there is still hope for a deal on the fiscal cliff before year's end. >>> brace yourself for $7 a gallon mick because a federal subsidy to dairy farmers expires january 1st. unless congress acts the government would have to pay farmers twice the current rate driving up the price for everyone. california won't be able to stop so-called conversion therapy for young gay people even though the state has banned an the controversial practice. an appeals court issued an unjings preventing the ban from taking effect. >>> here's what's trending online. three people arrested for a house explosion that nearly wiped out an indianapolis neighborhood last month. two suspects lived in the house that exploded and killed two neighbors. police say their motive was to collect a huge insurance payout. >>> is the pope pardoned his former butler. the vatican says the pope personally visited gabriele before his release to confirm his forgiveness. i only wish i could be splitting some $2 billion right now. but for some lucky people in spain they get to cash in on the country's annual ch
both sides are saying there is still hope for a deal on the fiscal cliff before year's end. >>> brace yourself for $7 a gallon mick because a federal subsidy to dairy farmers expires january 1st. unless congress acts the government would have to pay farmers twice the current rate driving up the price for everyone. california won't be able to stop so-called conversion therapy for young gay people even though the state has banned an the controversial practice. an appeals court issued an...
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speaking of the fiscal cliff, there has been all this focus on one dangerous man who stands in the way of a deal that could avert it. grover norquist is neither elected nor has he ever run for office, so why is washington so scared of him? >> taxes went up, spending didn't go down. >> he's been called a kingmaker, a patriot, and the ideological godfather of the tea party. since the mid'80s, grover norquist, the founder of americans for tax reform, has been the driving force behind the anti-tax movement. his goal, to take big government and in his words, drown it in the bathtub. norquist's weapon is the taxpayer protection pledge, which was at one point signed by 95% of gop members of congress. >> you raise your hand if you feel so strongly about not raising taxes. >> reporter: on the campaign trail this year, only one republican presidential candidate, jon huntsman, dared to cross him. norquist has clout. he's called the most powerful unelected man in america today. but since the november election, his fortunes have changed. >> i will violate the pledge. >> a pledge you sign 20 years a
speaking of the fiscal cliff, there has been all this focus on one dangerous man who stands in the way of a deal that could avert it. grover norquist is neither elected nor has he ever run for office, so why is washington so scared of him? >> taxes went up, spending didn't go down. >> he's been called a kingmaker, a patriot, and the ideological godfather of the tea party. since the mid'80s, grover norquist, the founder of americans for tax reform, has been the driving force behind...
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>> a recent survey showed that more people are following the fiscal cliff than they are the petraeus scandal. so maybe there's some reality in the world. stock futures flat this morning guys. yesterday's optimism giving way to revived concerns this morning about europe. moody's downgraded france's credit rating late last night, and europe's finance ministers are meeting in brussels today to talk about greece. yesterday the dow jumped 207 points. that's more than 1.5%. that was the biggest day for stocks in months. strength in real estate adding to yesterday's good mood. existing home sales rose more than 2% in october and home prices are up more than 11% from a year ago. that's right. according to the national association of realtors the median price of an existing home $178,600. home prices have risen for eight consecutive months now. >>> an eleventh hour twist in the hostess liquidation drama. a judge pushing hostess and its striking union into a mediation session today to possibly avoid liquidating the company and cutting more than 18,000 jobs. if today's session is not successful
>> a recent survey showed that more people are following the fiscal cliff than they are the petraeus scandal. so maybe there's some reality in the world. stock futures flat this morning guys. yesterday's optimism giving way to revived concerns this morning about europe. moody's downgraded france's credit rating late last night, and europe's finance ministers are meeting in brussels today to talk about greece. yesterday the dow jumped 207 points. that's more than 1.5%. that was the biggest...
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, cutting from entitlements, are you worried what will happen if we do fall off the fiscal cliff? i'm curious as to how it would affect your business, in particular. >> some of the issues that are a concern for me in terms of the fiscal cliff, primarily are the transportation funding. i'm a civil engineer working out of denver, a small business. any cuts to transportation funding would significantly impact my business. and on a personal level, absolutely, i feel like we do fall in the higher tax bracket as did a lot of the small business owners. and we feel like it is still the right thing to do to make sure that everybody pays their fair share and that a deal is made so that it's equitable across the board. it is too important. the fiscal cliff will affect not only the national community but colorado economics and of course, my business. >> if you talk to me about the people that were in the room and the sentiment that was expressed to the president, i'm curious as to how many people and if there were some solutions, real solutions that were put on the table. >> it was interestin
, cutting from entitlements, are you worried what will happen if we do fall off the fiscal cliff? i'm curious as to how it would affect your business, in particular. >> some of the issues that are a concern for me in terms of the fiscal cliff, primarily are the transportation funding. i'm a civil engineer working out of denver, a small business. any cuts to transportation funding would significantly impact my business. and on a personal level, absolutely, i feel like we do fall in the...
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it is called the fiscal cliff. for that reason. a plan to stop it all from happening still eludes washington. so congress has broken camp for the holidays, the president has gone to hawaii on vacation. white house correspondent brianna keilar tells us no one is really talking, anyone, to get this solved. at least not here at christmas. >> reporter: senate democrats are not in conversations right now with senate republicans or with house republicans. and this is problematic obviously because in order to avoid the fiscal cliff, you would need to find some sort of deal that would make it through the senate and the house and that would mean democratic and republican support. right now, all eyes on the senate because they will reconvene on the 27th that is thursday. and senate majority leader harry reid, it is up to him really to cobble together something that can get some of that support. right now the white house is still supporting a threshold of $250,000 back to their initial starting point for tax rates going up for those making mo
it is called the fiscal cliff. for that reason. a plan to stop it all from happening still eludes washington. so congress has broken camp for the holidays, the president has gone to hawaii on vacation. white house correspondent brianna keilar tells us no one is really talking, anyone, to get this solved. at least not here at christmas. >> reporter: senate democrats are not in conversations right now with senate republicans or with house republicans. and this is problematic obviously...
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. >> should there be a compromise in order to avoid going over the fiscal cliff? john boehner's already $800 billion in increased tax revenue, not necessarily raising the marginal tax rate on the wealthy, but capping deductions, limiting loopholes, are you with the speaker of the house on that? >> unfortunately, wolf, the policies of president obama have already taken us over the cliff. if you meet with businesses like i do all the time, they've already paired back plans for next year anticipating what's going to happen. we can fix this christmas eve if we want, but we've already hurt the economy and job growth. >> are you with boehner? >> i'm not with boehner. this government doesn't need anymore money. this country needs less government. we're going to have historic levels of revenue to the government this year. >> everyone's taxes are going up at the end of the year if there's no deal. >> we have already offered to extend current tax rates. that's what we should have done six months ago until we could come to some agreement, some compromise on tax reform. >> wh
. >> should there be a compromise in order to avoid going over the fiscal cliff? john boehner's already $800 billion in increased tax revenue, not necessarily raising the marginal tax rate on the wealthy, but capping deductions, limiting loopholes, are you with the speaker of the house on that? >> unfortunately, wolf, the policies of president obama have already taken us over the cliff. if you meet with businesses like i do all the time, they've already paired back plans for next...
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on the top 2% as part of a larger fiscal cliff deal. in a conference call today, their chairman at the business roundtable said, some executives are unhappy that we want to even mention revenues or taxes but he said everybody's got to feel a little bit like they are getting nailed and then we will know if we've got a deal. white house officials met with this group and also helped them get to this place. they said, bottom line, they knew that they thought their prospects deal was grim and this was a step they had to take to help both sides come to a deal. >> maybe it will help because a lot of these guys are very, very influential. speaking of the fiscal cliff, jessica, what did the fed chairman ben bernanke say about these current negotiations? >> well, bernanke is the man credited with coining the term fiscal cliff. he did it back in february as part of testimony before congress. bernanke was speaking at a press conference today and he was asked two things. one, does he see impacts from the fiscal cliff, the lack of a deal, is it alrea
on the top 2% as part of a larger fiscal cliff deal. in a conference call today, their chairman at the business roundtable said, some executives are unhappy that we want to even mention revenues or taxes but he said everybody's got to feel a little bit like they are getting nailed and then we will know if we've got a deal. white house officials met with this group and also helped them get to this place. they said, bottom line, they knew that they thought their prospects deal was grim and this...
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at the top of the list they've got to address the coming fiscal cliff. if there's no change in policy, tax rates are going up on everybody and we've got some really large spending cuts that are in train. so both of them need to focus on that. and both of them are focused on achieving fiscal sustainability. that is future budget cuts that will result in deficits that are small enough that are debt-t debt-to-gdp stabilizes. there are some very clear differences. what strikes me most is the similarities in terms of focusing on our fiscal situations. and i think they're right. we have to focus on those things if we're going to be able to grow more strongly in the future. >> christine lagarde, the head of the imf, the international monetary fund, she's in tokyo. and she said this today. let me play the little clip. >> are we safer today than at the time of the lehman crisis? i would say not quite yet. >> she's referring to the collapse of lehman brothers back in 2008. that was pretty sobering when i heard that. what do you think? >> yeah, it is sobering. of c
at the top of the list they've got to address the coming fiscal cliff. if there's no change in policy, tax rates are going up on everybody and we've got some really large spending cuts that are in train. so both of them need to focus on that. and both of them are focused on achieving fiscal sustainability. that is future budget cuts that will result in deficits that are small enough that are debt-t debt-to-gdp stabilizes. there are some very clear differences. what strikes me most is the...
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. >> can you defer medicare for example -- medicare reform until after you get a deal on the fiscal cliff? >> well, if we do that, wolf, i think what you have to do is also defer the issue of taxes. i think you extend tax rates some time into the foreseeable future whether that's six months or a year and allow us to go through the process where we can deal with entitlement reform and tax reform in regular order. i don't see republicans supporting something up here that deals with taxes that doesn't have entitlement reform incorporated into that. so i think right now we're a little bit of a standoff, but the way to solve this would be of course to extend the existing tax rates which is by the way something the president agreed to two years ago when economic growth was stronger than it is today. at that time he said we shouldn't be raising taxes when we have a weak economy. that would be a bad idea. growth today is significantly lower than it was two years ago when he made that statement. we agree it's about jobs and the economy. that's what the president said after the election that he wan
. >> can you defer medicare for example -- medicare reform until after you get a deal on the fiscal cliff? >> well, if we do that, wolf, i think what you have to do is also defer the issue of taxes. i think you extend tax rates some time into the foreseeable future whether that's six months or a year and allow us to go through the process where we can deal with entitlement reform and tax reform in regular order. i don't see republicans supporting something up here that deals with...
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cliff. lawmakers leaving the door open for compromise in congress. >> road rage on the nascar track. a crash leads to a wild melee between pit crews on live tv. >> that was ugly. >> it was. good morning, and welcome to "early start" i'm alison kosik. >> good morning, everybody, i'm alina cho. john and zoraida have the day off. it is 5:00 a.m. let's get started. up first, more fallout from the sudden and shocking resignation of cia director david petraeus, because of an extramarital affair. there are new details, and new questions this morning, about an fbi investigation that led to his departure. the fbi uncovered evidence of an affair between petraeus and his biographer paula broadwell, after she allegedly sent harassing e-mails to another woman she jealously thought was too close to petraeus. new york congressman peter king says there are far more questions than answers. >> this seems to have been going on for several months. yet now it appears that they're saying that the fbi didn't reali
cliff. lawmakers leaving the door open for compromise in congress. >> road rage on the nascar track. a crash leads to a wild melee between pit crews on live tv. >> that was ugly. >> it was. good morning, and welcome to "early start" i'm alison kosik. >> good morning, everybody, i'm alina cho. john and zoraida have the day off. it is 5:00 a.m. let's get started. up first, more fallout from the sudden and shocking resignation of cia director david petraeus,...